Globalstar, Inc. (NYSE:GSAT – Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $1.36, but opened at $1.39. Globalstar shares last traded at $1.33, with a volume of 1,037,705 shares changing hands.
Globalstar Trading Down 8.1 %
The company has a debt-to-equity ratio of 0.97, a current ratio of 1.00 and a quick ratio of 0.90. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -68.00 and a beta of 0.90. The business has a 50 day simple moving average of $1.24 and a 200-day simple moving average of $1.18.
Globalstar (NYSE:GSAT – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $60.39 million during the quarter, compared to analysts’ expectations of $57.49 million. Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. As a group, equities analysts expect that Globalstar, Inc. will post -0.02 earnings per share for the current year.
Insiders Place Their Bets
Hedge Funds Weigh In On Globalstar
A number of large investors have recently made changes to their positions in the company. New York State Common Retirement Fund boosted its holdings in Globalstar by 10.1% in the 4th quarter. New York State Common Retirement Fund now owns 246,519 shares of the company’s stock valued at $478,000 after purchasing an additional 22,624 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Globalstar by 39.6% in the fourth quarter. Victory Capital Management Inc. now owns 102,178 shares of the company’s stock valued at $198,000 after buying an additional 28,986 shares during the period. Robertson Stephens Wealth Management LLC increased its stake in Globalstar by 3.6% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 2,016,000 shares of the company’s stock worth $3,911,000 after acquiring an additional 70,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Globalstar by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,646,468 shares of the company’s stock valued at $10,954,000 after acquiring an additional 213,489 shares in the last quarter. Finally, Locust Wood Capital Advisers LLC bought a new stake in shares of Globalstar during the 4th quarter valued at $2,769,000. Institutional investors own 18.89% of the company’s stock.
About Globalstar
Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications.
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